No. of Recommendations: 4
Pfizer is the poster child for a company pursuing growth through expensive acquisitions.
One of the things I've liked about Moderna's approach to their Covid profit windfall is they've been very restrained about pursuing acquisitions and instead have invested in building out their own R&D, production and sales capacity.
Of course they don't have the numerous streams of income that Pfizer does, so they'll feel the decline in Covid revenue far more sharply, and it's speculative that they'll succeed in bringing other blockbusters to market, or that Covid vaccine sales would rebound in any significant way from the levels projected for this year.
